by Gina Heeb | Oct 20, 2022
Legal and regulatory expenses delivered a surprisingly steep blow to Wells Fargo & Co. in the third quarter, the latest sign that issues like its 2016 account fraud scandal could loom large over its bottom line for longer than Wall Street had expected. The...
by Gina Heeb | Oct 9, 2022
Wells Fargo & Co. agreed to pay roughly $145 million to settle a lawsuit over government allegations that the bank’s retirement plan overpaid for company stock, the U.S. Labor Department said Monday. Under the settlement agreement, the third-largest U.S. bank by...
by Gina Heeb | Sep 20, 2022
Think banks and downturns don’t go well together? Think again. Wall Street analysts and investors are challenging the longstanding view that U.S. bank stocks move in lockstep with economic growth, arguing that high interest rates and regulatory changes over the past...
by Gina Heeb | Sep 9, 2022
U.S. stocks ended a choppy trading session slightly higher Thursday as investors mulled fresh signs that central banks around the world would take increasingly aggressive steps to tame inflation. The S&P 500 climbed 0.66% to 4,006.18. The Nasdaq Composite and the...
